Skandinaviska Enskilda Banken AB publ Purchases New Stake in NiSource Inc. (NYSE:NI)

Skandinaviska Enskilda Banken AB publ bought a new stake in shares of NiSource Inc. (NYSE:NI - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 103,121 shares of the utilities provider's stock, valued at approximately $3,785,000.

A number of other institutional investors have also recently modified their holdings of the business. Brooklyn Investment Group boosted its holdings in NiSource by 153.2% in the 4th quarter. Brooklyn Investment Group now owns 871 shares of the utilities provider's stock worth $32,000 after buying an additional 527 shares during the last quarter. Spire Wealth Management purchased a new position in NiSource in the 4th quarter worth approximately $39,000. Catalyst Capital Advisors LLC purchased a new position in NiSource in the 4th quarter worth approximately $40,000. Legacy Investment Solutions LLC purchased a new stake in shares of NiSource during the 3rd quarter valued at approximately $47,000. Finally, iA Global Asset Management Inc. purchased a new stake in shares of NiSource during the 3rd quarter valued at approximately $78,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

NiSource Stock Performance

NiSource stock traded down $0.53 during trading hours on Tuesday, reaching $38.83. 2,227,072 shares of the stock were exchanged, compared to its average volume of 3,662,019. The stock has a market cap of $18.25 billion, a P/E ratio of 23.97, a P/E/G ratio of 2.56 and a beta of 0.50. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.41 and a current ratio of 0.51. NiSource Inc. has a 52-week low of $26.26 and a 52-week high of $41.45. The firm's 50 day moving average is $38.42 and its 200 day moving average is $36.50.

Remove Ads

NiSource (NYSE:NI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.05). NiSource had a net margin of 13.94% and a return on equity of 7.87%. During the same quarter in the previous year, the company posted $0.53 earnings per share. Analysts predict that NiSource Inc. will post 1.91 EPS for the current fiscal year.

NiSource Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 3rd were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.88%. This is a boost from NiSource's previous quarterly dividend of $0.27. The ex-dividend date was Monday, February 3rd. NiSource's dividend payout ratio is presently 69.14%.

Insider Activity at NiSource

In other NiSource news, CAO Gunnar Gode sold 5,500 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $39.92, for a total transaction of $219,560.00. Following the sale, the chief accounting officer now directly owns 24,758 shares of the company's stock, valued at $988,339.36. This trade represents a 18.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Wells Fargo & Company lifted their price target on shares of NiSource from $39.00 to $43.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $38.13.

NiSource Profile

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.